Additional data obtained from an examination of the accounts in the ledger for $20$Y$3$ are as follows:

a$.$ The investments were sold for $$280,020$ cash.

b$.$ Equipment and land were acquired for cash.

c$.$ There were no disposals of equipment during the year.

d$.$ The common stock was issued for cash.

e$.$ There was a $$186,520$ credit to Retained Earnings for net income.

f$.$ There was a $$95,770$ debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from $($used for$)$ operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required.